Новости/Аналитика

A cannabinoid company in Ireland receives a development grant

28.12.2018

Given the prospects for the use of national varieties of technical hemp, the therapeutic orientation can be very likely to state that in the near future a number of foodstuffs, cosmetics, as well as dietary supplements of national production rich in drug-free cannabinoids will be introduced to the Ukrainian market.

On the pages of the specialized electronic publication of Ukrainian growers, our readers have more than once focused on the trend to significantly reduce the cost of hemp products of therapeutic orientation due to the creation of special technical varieties of the medical direction. How Irish companies specializing in the production of CBD are trying to solve this problem and how the government helps them with this is outlined in this material.

Two hemp growers in Ireland received a scholarship of € 15,000 to develop their cannabis business at the Irish Enterprise Development Agency.

Business partners Laura Foley and Daniel Lyons opened their company Canabaoil at the end of 2017. The above award is provided under the New Frontiers New Frontiers program and is among several awards annually awarded to start-ups with high development potential.

According to the winners of the competition, “this is an opportunity to develop a business plan for the strategic development of hemp business, drawn up under the guidance of a group of international experts. In addition, it is a recognition of the company's promise, which opens up other opportunities in the country to lobby for the interests of national hemp industry in government and business circles and to give legitimacy to the emerging Irish cannabis industry. "

The owners of the Canabaoil company are planning to present cannabidiol-rich tincture to the European market already in March 2019, as well as the technology of its use in cosmetics, food, soft drinks and alcoholic beverages and pet food.

In 2018, Irish hemp growers grew French varieties Futura and Felina on their farm. According to the partners, "they found that both varieties spend the main energy of plant growth on seed production, and not on trichomes rich in cannabinoids." Due to the fact that the French varieties of technical hemp are poorly suited for the use of the plant for therapeutic purposes, the partners wondered what the situation is on the market for seed of technical hemp therapeutic in the EU.

In the course of studying this issue the companions made the following conclusion:

- The European market is in dire need of varieties of technical hemp, rich in drug-free cannabinoids;

- Technical hemp varieties introduced into the database allowed for cultivation in the EU are mainly focused on seed production and fiber production;

- breeding varieties with a low content of tetrahydrocannabinol (THC) and a high content of cannabidiol (CBD) is potentially extremely interesting for the EU cannabis growing market, primarily for small specialized hemp producers who want to grow a plant specifically to use its therapeutic properties.

That is why the obtained financial resources from the state, the owners of the Canabaoil company, plan to direct the search for a solution to the key issue of their business - the search for varieties of technical hemp therapeutic orientation with a minimum amount of THC and a significant amount of CBD.

Commentary of the «Ukrainian Industrial Hemp Association»

Breeders of our country bred technical hemp varieties of therapeutic orientation, the content of which TGC corresponds to the current legislation of Ukraine, and the number of CBD is comparable to the varieties used in economically developed countries for medical purposes. The prospects for the use of these varieties were substantively discussed during the Cannabinoid Therapy round table, held within the framework of the Hemp University project. Given the prospects for the use of national varieties of technical hemp, the therapeutic orientation can be very likely to state that in the near future a number of foodstuffs, cosmetics, as well as dietary supplements of national production rich in drug-free cannabinoids will be introduced to the Ukrainian market.